I personally think being able to affordably build smaller games is a great way for developers to perfect new ideas and try innovative concepts on a smaller scale, particularly when compared to the stifling risk-aversion you'll see from AAA side of things. I think with the rise of the indie scene in recent years, there may be less stigma surrounding these kinds of games than there was in the past.

The only RPGMaker game I've played is Embric of Wulfhammer's Castle, which I thought was rather good, so any recommendations as to other gems out there is appreciated, as well. :)